China's economy grows 7.9%, beating expectations

SarahTurner

SYDNEY (MarketWatch) -- The Chinese economy grew 7.9% year-on-year in the fourth quarter of 2012, beating forecasts for growth of 7.8% compiled by Dow Jones Newswires and Reuters. The fourth-quarter figure represented an increase from the 7.4% GDP growth posted by the Chinese economy in the third quarter of 2012. December retail sales were up 15.2% compared to a year ago. Industrial output in December rose 10.3% on year, in line with economist expectations, while 2012 non-rural fixed-asset investment climbed 20.6% year-on-year, also in line with expectations.

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